St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-17
ST. PAUL REAL ESTATE.
in All Respects the Real Estate Markets.
in Excellent Condition and
Promising.
{ Large Sale Yesterday of Dayton's Bluff
Property, Amounting to $ll8,-
900 in All.
More Houses Absolutely Necessarily
What Different Parties Have
to Say of the Market.
AN Elegant Suburban Residence al
Lake Como--Good Demand for
Property Everywhere.

The spring has opened With steadily in
creaSing demand for realty in every part of
the city and in every suburb. 1t is impoS
Slble TO designate any special locality that
seems to have preference over others for
many consecutive days. Day by day every
part of the city is growing steadily, and a
healthy development is manifesting itself.
The building permits show that great
number of new structures are being COM
menced. Some of them are to be fine and
expensive business blocks, others elegant
residences. but by far the greater number
are moderate-siZed houses for the people,
costing from ST. coo to So. 600. The people
of moderate financial ability all seem to have
come to the wise conclusion that it is better
10 build and live in q house owned by them
selves than to pay rent. This is one of the
very commendable features Of the growth
and development of st. Paul. The people
here realize the Importance of owning the
earth, or some portion OF it. In consequence
there are are thousands of house owners
who are people of very moderate means.
but they invariably find it profitable. 1t
saves rent. 1t encourages economy, 1t makes
more tasteful and pretty the homes of the
laboring classes, and on the whole renders
our city much more beautiful. Hundreds
will try to build homes for themselves this
lived in flats or occupied cheap rooms i'll
boarding houses AS illustrating the
scarcity of small houses and rooms
and flats to rent. it is learned that gentle
man with his family. arrived from Chicago
early last week. who came to st. Paul to
Ill situation previously offered him. He
brought his family and household goods
with him. and expected to find convenient
quarters and get settled in forty-eight hours
after arriving here. The greater part of
the week was spent in searching for accom-
modationS. and he was almost discouraged
by the high rentals and inferior accommo-
dations that could be secured. This is but
one case. which illustrates hundreds of
other similar ones. Other families are
waiting at various points to come here as
soon as their friends or agents notify them
that anything can be secured. Almost
every room. fiat or tenement that is at all
available is occupied, and there are many
applications daily that can not be met.
Prices for moderate sized houses, with
water. sewerage, etc, are too high, and
unless many hundreds Of new houses are
bullt this season multitudes will be turned
away for lack OF accommodations. During
previous years practical mechanics have
made good wages and handsome profits by
buying cheap lots, erecting thereon small
tenement houses with from five to eight
rooms in them, and, as soon as completed,
selling the new house and lot for fair
price with a small cash payment down and
the balance in monthly inStallmentS. One
mechanic builds from twelve to fifteen houses
in that way every season, and he says that.
besides making steady employment for
himself and a number of mechanics in his
employ, he realizes from 20 to 35 per cent.
profit on the money he thus employs in
building, and sometimes he has made
as much as so per cent. profit where he has
bought lots in district that has developed
rapidly. This plan of operating could be
repeated many times in this city and to the
great profit of the capitalist and the me-
chanic, both. One man who made spe-
cialty of this system of buying. building and
selling. man of large means and not
mechanic himself. who operated in the
eastern part of the city, in Arlington Hills
particularly, is said to have built last year
over 200 houses. He has been doing 'thi.;
for two or three years, and he says that in
all his experience he rarely ever has prop
erty come back on his hands that had been
sold on the monthly payment plan, and
then only where there has been sickness or
some unforeseen misfortune which has
stopped the purchaser from earning his ac-
customed wages. The building societies of
st. Paul have also been powerful aids i'll
building up the city assisting worthy men
to secure homes for themseles.